Hazlett Burt & Watson Inc. Has $30,000 Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Hazlett Burt & Watson Inc. grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 652.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,038 shares of the business services provider’s stock after acquiring an additional 900 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Interpublic Group of Companies were worth $30,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of IPG. BNP Paribas Financial Markets lifted its position in Interpublic Group of Companies by 15.0% in the first quarter. BNP Paribas Financial Markets now owns 989,318 shares of the business services provider’s stock worth $32,281,000 after purchasing an additional 129,215 shares during the period. Cowen AND Company LLC acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter valued at about $871,000. Norges Bank acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter valued at about $32,620,000. Alaska Permanent Fund Corp raised its position in Interpublic Group of Companies by 305.6% in the first quarter. Alaska Permanent Fund Corp now owns 54,129 shares of the business services provider’s stock worth $1,766,000 after purchasing an additional 40,785 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its stake in Interpublic Group of Companies by 3.0% during the second quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock worth $34,532,000 after purchasing an additional 34,965 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 0.7 %

Shares of NYSE:IPG opened at $30.93 on Thursday. The Interpublic Group of Companies, Inc. has a 12 month low of $27.20 and a 12 month high of $35.17. The company’s 50-day moving average price is $30.68 and its two-hundred day moving average price is $30.99. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The firm has a market cap of $11.67 billion, a P/E ratio of 11.01, a P/E/G ratio of 5.20 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue was up 1.6% on a year-over-year basis. As a group, research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America lowered their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Barclays dropped their target price on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Macquarie dropped their target price on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $33.88.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.